Qatar Airways reported $1.2 billion in profits over the past year, buoyed by its role in ferrying fans to the soccer World Cup. The long-haul airline said it transported 1.4 million passengers to the FIFA World Cup in Qatar. It also expanded its network to more than 160 destinations.
The carrier said it increased its revenue to $21 billion, a 45% increase over the previous year with a yearly passenger load of 31.7 million, a 71% increase.
Qatar Airways operates out of a new airport in Qatar’s capital, Doha, and competes with Emirates and Etihad, which operate out of the nearby United Arab Emirates.
Qatar Airways made it through the pandemic’s hardest months with a $3 billion lifeline from the Qatari government. Its main competitor, Dubai’s flagship Emirates Airline, also received a multibillion-dollar payment by the Dubai government during the pandemic. The two airlines serve as economic mainstays for their respective countries, which rely heavily on tourists and transit passengers.
The Qatari airline’s brand is familiar to European soccer fans, where it has partnerships with FC Bayern München and Paris Saint-Germain. In the United States, it has a brand partnership with the Brooklyn Nets.